Brazilian authority fines Getinge approximately £2.8m for anticompetitive practices
Getinge has reached two Settlement Agreements with the Brazilian competition authority, the Administrative Council for Economic Defense (CADE), related to cases of anticompetitive practices.
The Swedish healthcare manufacturer has agreed to pay CADE corporate fines of BRL 15.2m (approximately £2.8m) in the first quarter of 2020.
Part of ongoing government investigations, the cases related to anticompetitive practices concerning the sale of medical equipment made mainly to Brazilian public entities between 2004 and 2017.
According to the multinational manufacturer, all cases are mostly attributable to Getinge’s Brazilian subsidiaries, Maquet Cardiopulmonary do Brasil Indústria e Comércio Ltda and Maquet do Brasil Equipamentos Médicos Ltda.
The new Settlement Agreements follows on from fines paid by the Getinge in July 2018 of close to £23.9m to the Brazilian Federal Public Prosecutor’s Office after it was accused of the manipulation of tender procedures in the country.
Highlighting that negotiations are still ongoing with other relevant Brazilian authorities, Getinge says it currently cannot rule out that future agreements with other authorities may have an impact on its results and financial position.
